Sinema took Wall Street money while killing tax on investors

WASHINGTON (AP) — Sen. Kyrsten Sinema, the Arizona Democrat who single-handedly thwarted her party’s long-time goal of raising taxes on wealthy investors, received nearly $1 million over the past year from private equity professionals, hedge fund managers and venture capitalists whose taxes would have increased under the plan. For years, Democrats have promised to raise … Read more

House passes massive climate, tax and health bill

The House passed a sweeping tax, health and climate bill on Friday, delivering a major win for Democrats and President Joe Biden less than three months before the pivotal midterm elections. The chamber approved the more than $430 billion package by a 220-207 margin, as all Democrats backed it and all Republicans opposed it. The … Read more

Inflation Reduction Act may have little impact on inflation

WASHINGTON (AP) — With inflation raging near its highest level in four decades, Congress is poised to approve President Joe Biden’s signature Inflation Reduction Act. Its title raises a tantalizing question: Will the measure actually tame the price spikes that have inflicted hardships on American households? Economic analyzes of the proposal suggest that the answer … Read more

The consumer is going to pay for this: Billionaire – Fox Business

The consumer is going to pay for this: BillionaireFox Business Former Disney exec: Tens of billions being spent on this contentFox Business Your CEO: Cost of goods skyrocketed, but we’re not jacking pricesFox Business View Full Coverage on Google News

Watch live: House debates Schumer and Manchin’s Inflation Reduction Act | USA TODAY – USA TODAY

Watch live: House debates Schumer and Manchin’s Inflation Reduction Act | USA TODAYUSA TODAY Inflation Reduction Act poised for House passageCBS News Editorial: The Inflation Reduction Act — it’s complicated | Editorials | postandcourier.comCharleston Post Courier Democrats’ Inflation Reduction Act is simply Build Back Better 2.0 and it’s a scamFox News View Full Coverage on … Read more

Inflation Reduction Act poised for House passage – CBS News

Inflation Reduction Act poised for House passageCBS News The IRS will use the Inflation Reduction Act’s spending boost to target conservative groups: Tea Party group founderFox News Editorial: The Inflation Reduction Act — it’s complicated | Editorials | postandcourier.comCharleston Post Courier Democrats’ Inflation Reduction Act is simply Build Back Better 2.0 and it’s a scamFox … Read more

Inflation Reduction Act limits pass-through tax break for 2 more years

Senate Majority Leader Chuck Schumer, DN.Y., discusses the Inflation Reduction Act on Aug. 7, 2022 in Washington, DC Kent Nishimura | Los Angeles Times | Getty Images Senate Democrats curtailed a tax break for certain pass-through businesses as part of the Inflation Reduction Act passed Sunday. A pass-through or flow-through business is one that reports … Read more

‘The Sacrifice Zone’: Myanmar bears cost of green energy

The birds no longer sing, and the herbs no longer grow. The fish no longer swim in rivers that have turned a murky brown. The animals do not roam, and the cows are sometimes found dead. The people in this northern Myanmar forest have lost a way of life that goes back generations. But if … Read more

Our Bewildering Economy – The American Prospect

The robust job growth of 528,000 in July, reported Friday, surprised forecasters and confirmed that we are not in a recession—yet. But the Fed seems determined to push us into one. Despite the victory laps taken by Larry Summers, Jason Furman, and others who blame inflation on the stimulus of the relief spending of 2020 … Read more

The market’s big winners and losers in climate, health and tax bill

US Senate Majority Leader Chuck Schumer (D-NY) walks outside the US Capitol in Washington, US August 2, 2022. Jonathan Ernst | Reuters Want to know what the Inflation Reduction Act means for the market’s biggest companies, as well as for your wallet? When it comes to politics, you always have to follow the money – … Read more